CNA Pro introduced a new policy called E-Pack, which provides management liability coverages for small to mid-sized privately held companies. It includes coverage for employment practices liability, miscellaneous professional liability, directors & officers liability, entity liability and fiduciary liability coverage.
The E-Pack policy offers applicants the flexibility to purchase a single coverage or a combination of two or more coverages. Limits and retentions can be shared between coverages or be separate for each coverage.
E-Pack is currently being filed throughout the United States. Once this process is complete, it will be one of the few approved forms in the country that offers both miscellaneous professional liability and employment practices liability.
Other features of E-Pack include CNA's duty to defend. Punitive damages also are covered--where insurable by law--and there are no exclusions for acts occurring prior to the policy period for most coverage parts. Coverage for bankruptcy proceedings and spousal liability is also included.
For more information about E-Pack, contact CNA Pro at (800) 852-0393 or visit CNA Pro's Web site (www.cnapro.com).
Hartford introduces changes in small business policy
The Hartford has added coverages to its Spectrum small business policy, raised the policy's basic and optional limits and extended its eligibility to more than 200 additional classes of business. The expanded version, called Spectrum 2000, permits business to be submitted electronically through a variety of means.
Agents can submit Spectrum 2000 business through the company's proprietary InterComm software or through several non-proprietary electronic and Web-based options. Business can be serviced by The Hartford's Select Customer Service Centers.
The 200 new classes available for the program include high-tech industries such as Web site design and development, software development and Internet tool providers (ITPs); financial services companies such as security brokers and mortgage brokers; cultural organizations such as museums, art galleries and libraries; associations such as charitable foundations, professional associations and civic associations; and even book and local newspapers publishers. With the new additions, the program is available to more than 700 classes of business.
More than 35 coverage options and enhancements also have been added, including protection against theft by computer fraud, and options to combine building and personal property located in a single or several locations into a single blanket limit of up to $5 million per location. The Hartford introduced physical damage protection for hired vehicles, an often requested option.
Also new is the ability to place property-only or liability-only policies in Spectrum 2000.
Spectrum 2000 can be economically expanded by adding a package of coverages contained in any one of Stretch, Super Stretch and Stretch Plus endorsements. Also available are new Stretch endorsement packages tailored to specific industries such as business services, communications, technology, cultural organizations, law offices, medical offices and printers. The Hartford has expanded Spectrum umbrella limits and coverages to meet the growing needs of small businesses.
Spectrum 2000 was initially introduced in a limited number of states on August 1. The program has been filed in all states countrywide (excluding Alaska and Hawaii) and is expected to be available in every state by year-end.
For more information about Spectrum, visit The Hartford's Web site (www.thehartford.com). *